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iFRC Case Study

F1 PLUMBING

F1 Plumbing & Heating Ltd (“F1PH”) provides gas heating and plumbing services in and around Sheerness in Kent.

 

We met with Jon from F1PH to dsicuss his current management reporting and more importantly what management information he wanted to produce.

 

The next stage was to to interrogate the underlying systems to identify and understand the data available and the 'data gaps' that needed to be filled to meet his requirements.

 

Solution

 

A large part of the data required could be sourced from F1PHs underlying financial systems.  However, there was a significant amount of, mainly, non-financial data that needed to be collected.  This largely related to the collection of time management information.


Based on our 'as-is' analysis we identified all the data sources and how the data was to be uploaded in to iFRC.  We implemented a two stage import scenario, whereby underlying data from financial systems is imported on a Sunday and time management and job specific data was uploaded on a daily basis.

 

Outcome

 

We redesigned the management reporting pack, from the standard reports included in the legacy package to reflect the information required by F1PH. 

The management accounts pack production is now automated, this pack also includes input areas for commentary.

The final pack is automatically published and emailed to board members.

 

In addition and for operational purposes we produced key reporting metrics from the data within F1PH's Service Management Software Application enabling insight in to each job.  This information produced includes non-billable times such as preparation of quotes, travel times, average time for a service by house type and boiler manufacturer as well as income and gross profit per job.

 

Subsequently F1PH has engaged iFRC Ltd to prepare its management accounts and it has outsourced the production of its management reporting to us.

 

The Client

 

“At first I just wanted help in setting up my management reporting, but the service provided by Paul and his team has been fantastic and outsourcing the accounting and reporting to iFRC enables me to be fully focused on running my business.  It made complete sense for iFRC to prepare everything for me.

 

I now have significantly more information to hand when I get a call from a client, from the average time it takes to get to different locations on different days through to the time it takes to complete a job.  Now that I have access to all my information I am so much more scientific in how I provide estimates and quotes”.

 

Jon – Owner of F1 Plumbing and Heating

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